Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. lessened its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,689 shares of the medical research company's stock after selling 12,039 shares during the period. Becker Capital Management Inc. owned about 0.07% of Quest Diagnostics worth $11,117,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DGX. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. First Financial Corp IN purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $38,000. Versant Capital Management Inc grew its stake in Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after buying an additional 194 shares during the period. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Transactions at Quest Diagnostics

In related news, CEO J. E. Davis sold 39,191 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the transaction, the chief executive officer now directly owns 127,623 shares of the company's stock, valued at approximately $21,499,370.58. This trade represents a 23.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky B. Gregg sold 1,250 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now directly owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,903 shares of company stock valued at $9,460,221 in the last three months. Corporate insiders own 8.16% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DGX. Barclays boosted their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 23rd. Truist Financial upped their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective on the stock. Leerink Partnrs upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Evercore ISI raised their target price on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Quest Diagnostics has a consensus rating of "Moderate Buy" and an average target price of $185.07.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $178.92 on Wednesday. Quest Diagnostics Incorporated has a 12 month low of $135.27 and a 12 month high of $179.56. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 2.16 and a beta of 0.78. The stock's 50 day moving average price is $169.19 and its 200 day moving average price is $161.48. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.06. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.79%. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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